NEW YORK, Jul 06, 2011 (BUSINESS WIRE) -- Monogram Energy, Inc. (Pink Sheets: MGRN) announces today that its Board of Directors has opted to effect a 1.03 for 1 forward stock split of the Company's common shares. In light of recent company developments and achievements, which the company will be announcing in the coming weeks, it will move forward with this action for the benefit of its long-term shareholders. The company will not be proceeding with any reverse split of the company's stock as previously announced, nor does it have plans to proceed with any reverse split.
The forward split with a record date on or about Friday, July 8, 2011. Shareholders of record on the date effected will receive additional shares in MGRN equal to 3% of their holdings in MGRN common stock at that time. Fractional shares will be rounded up in favor of the shareholder. The appropriate paperwork for the forward split has been filed with FINRA and OTC Corporate Actions and the Board's decision is final as such.
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